First Trust Direct Indexing L.P. Has $1.41 Million Stock Position in The Boeing Company (NYSE:BA)

First Trust Direct Indexing L.P. cut its holdings in The Boeing Company (NYSE:BA) by 20.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,296 shares of the aircraft producer’s stock after selling 2,382 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Boeing were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the 2nd quarter worth $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the second quarter valued at approximately $34,000. McClarren Financial Advisors Inc. raised its holdings in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing during the 2nd quarter worth approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BA. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their price target on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Down 3.2 %

Shares of BA opened at $149.29 on Friday. The business’s fifty day moving average is $157.86 and its 200 day moving average is $171.09. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54. The stock has a market cap of $91.65 billion, a P/E ratio of -42.05 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) earnings per share. On average, analysts expect that The Boeing Company will post -5.35 EPS for the current year.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.